The first U.S.-based XRP futures ETF, Volatility Shares XRP ETF (XRPI), began trading on the Nasdaq exchange on Thursday. This fund tracks XRP futures on a one-to-one basis. The ETF has a gross expense ratio of 1.15% and a net expense ratio of 0.94% after fee waivers, according to the source.
The fund will allocate at least 80% of its assets to XRP futures contracts and XRP-linked ETPs. Volatility Shares is also planning a leveraged 2x XRP futures ETF. Teucrium (XXRP), which launched in April, has already accumulated $121 million in assets under management.
Bloomberg senior ETF analyst Eric Balchunas views XXRP's performance as a positive indicator of demand for XRPI. The launch of XRPI signifies growing interest in XRP-based investment products.
This article is based on our author's analysis of materials taken from the following source:
Volatility Shares.